SM Investments Corporation Eyes on Expansion to Serve More Regions

The SM group continues to expand its presence nationwide to serve more Filipinos and communities.

“We will continue to invest in growth in the Philippines and we are committed to being a catalyst for responsible development. We have a young, dynamic, higher-earning population who will help support and drive economic activity,” said SM Investments Corporation President and Chief Executive Officer Frederic C. DyBuncio.

There are many areas in the country which have yet to benefit from access to modern retailing, formal financial services and integrated property developments.

“Our strategy is to continue to expand coverage nationwide to create new markets that improve access to these sectors,” he added.

One additional mall in Metro Manila and three in the provinces will open in 2024 as part of SM Prime Holdings, Inc.'s effort to increase access to integrated assets. By adding new attractions and expanding on the cutting-edge ones that were unveiled in 2023, SM malls will keep improving the shopping experience. Among the many others are the debut of the SM Game Park at the Mall of Asia, which is dedicated to indoor sports activities, concert series in theaters, e-sports competitions, and enormous installations and Instagram-worthy locations in different malls.

In the northern Philippines, as well as in the Visayas and Mindanao, SM Development Corporation (SMDC) intends to build between 8,000 and 10,000 residential units this year.

At the Mall of Asia Complex in Pasay City, SM Hotels is set to formally open its first Lanson Place property.

Alfamart, SM's minimart grocery format, plans to add at least 400 new locations in 2024 as part of its retail development.

With plans to add 100 to 120 new locations this year, BDO and BDO Network Bank are continuing to broaden their reach across the country.

In addition to expanding its core operations, SM is making investments in developing markets with initiatives like its dedication to clean energy sources.

SM plans to explore potential steam sources in Northern and Southern Luzon after acquiring the Philippine Geothermal Production Company (PGPC). The company's medium-term goal is to increase its current steam production of 300 megawatts.

Green Lane Certificates for their renewable energy contributions have been given by the Board of Investments (BOI) to the following PGPC geothermal projects: Albayand Baua-Sikaw Geothermal Power Project in Cagayan; Mt. Labo Geothermal Power Project in Quezon, Camarines Norte, and Camarines Sur; Daklan Geothermal Power Project in Benguet; and Mt. Malinao Geothermal Power Project in Camarines Sur.

Approximately 2,000 employment will be created by these projects throughout exploration and development, improving the standard of living in each area.
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SM plans to investigate potential steam sources in Northern and Southern Luzon after acquiring the Philippine Geothermal Production Company (PGPC). The company's medium-term goal is to increase its current steam production of 300 megawatts.

Green Lane Certificates for their renewable energy contributions have been given by the Board of Investments (BOI) to the following PGPC geothermal projects: Albayand Baua-Sikaw Geothermal Power Project in Cagayan; Mt. Labo Geothermal Power Project in Quezon, Camarines Norte, and Camarines Sur; Daklan Geothermal Power Project in Benguet; and Mt. Malinao Geothermal Power Project in Camarines Sur.
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Approximately 2,000 jobs will be created by these projects throughout exploration and development, improving the standard of living in each area.

“We expect our core businesses to continue its growth trajectory. Additionally, we anticipate that our portfolio investments will contribute significantly to our overall performance in the medium-term as these are well-positioned to capture opportunities in high growth sectors,” added Mr. DyBuncio.

​SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

​SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.